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Engineering, procurement, construction & management of crude oil refineries.

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Message: Filings / compliance
1
May 14, 2008 01:37PM

From the pattern that WWF has followed, their compliance abilities are, to say the least, lacking. MF appears to have done several private placements (pp) with warrants attached. I would guess that very few, if any, warrants have been exercised over the years. That means less money for the treasury.

It also means the MF has to spend that much more time hustling to do more pp's . And that means he doesn't spend time on compliance. If he did run this like a real company, we should be seeing higher prices. His pattern seems to be one of doing all of his pp's at 10- 12 cents, and then abandoning his shareholders.

I just bought more stock because I feel (as opposed to "know") that he could be close. However, the question that should be asked would be "what would it take to take over the company" if mf doesn't produce this year. The company would have no value because both of the African deals would be off.

It does have value now because of MF's relationships with the African countries/companies/officials. That IS worth something, but mf has not tried to enhance company value because of those relationships. I don't know how he plays his game, but it would behoove him to make his s/h happy on the remote chance he might ever want to do another company.

I wish us all luck !

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May 14, 2008 02:08PM
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